Milei privatizes the Impsa metallurgical company; passes into American hands

Buenos Aires. The government of ultra-liberal Argentine President Javier Milei yesterday announced the first privatization of a company during his administration, by awarding the majority of the shares of a metallurgical company to a consortium with mostly US capital. We privatize Impsasaid the Minister of Economy, Luis Caputo, in his X account, in which he published a statement explaining the operation with Industrias Metalúrgicas Pescarmona. Impsa SA, founded in 1907 in the province of Mendoza, is dedicated to the manufacture of turbines, cranes, power generation reactors and technology. The ministry’s statement indicated that the official decision to divest the shares held by the State is aligned with the objective of zero deficit and the non-allocation of federal resources to private companies.